DGAP-News: AGO AG issues convertible bonds
(firmenpresse) - DGAP-News: AGO AG Energie + Anlagen / Key word(s): Bond
AGO AG issues convertible bonds
24.10.2011 / 10:44
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Corporate News of 24 October 2011
AGO AG issues convertible bonds
- Total nominal amount of up to EUR 2.0 million
- Subscription period from 25 October 2011 until 8 November 2011
- Major shareholder announces exercise of subscription rights
- Considerable burdens due to restructuring measures
Kulmbach, 24 October 2011: AGO AG Energie + Anlagen (WKN: A0LR41, ISIN:
DE000A0LR415), as specialist in the area of innovative and efficient energy
supply facilities issues convertible bonds with conversion obligation.
The convertible bond (ISIN DE000A1MA2J5) is made available to the
shareholders at a subscription ratio of 200:1 in the period of 25 October
2011 until 8 November 2011 - for every 200 shares of AGO AG, one
convertible bond at the nominal value of EUR 100.00 can be issued. The
convertible bonds at nominal value bear a fixed interest of 6.0% per year.
The total nominal amount of up to EUR 2.0 million aims at strengthening the
company's equity base and at the further growth of AGO AG, in particular
the dynamically growing divisions of big combined heat and power plants
from 1 MWel and the production of absorption chillers.
In 2011, AGO AG has sought to change its strategy and in the future will
focus the areas combined heat and power plants based on natural gas as well
as absorption chillers. The associated restructuring measures entail
significant burdens and expenditures in the amount of probably more than
EUR 1 million. AGO AG forecasts a balanced EBIT for the ongoing business
year and expects a clearly positive growth from 2012 on due to the
strategic reorganization.
'Management and Supervisory Board of AGO AG express strong confidence to
completely place the issued convertible bonds,' said Hans Ulrich Gruber,
Spokesman of the Management Board of AGO AG Energie + Anlagen.
The major shareholder of AGO AG -Perseus SEVA, L.L.C.- has already
announced exercise of its subscription rights from its participation of
59.25 percent of AGO AG and is willing to go along with the reorganization
of AGO AG. Perseus thus underlines its long-term interest in the company
once again. In addition, institutional investors and the Management of AGO
AG have also indicated to make use of their subscription rights.
Any non-issued convertible bonds pursuant to the subscription offer can be
acquired by institutional domestic and foreign investors in Europe within a
private placement, whereas purchase price equals to subscription price.
The expected term of the convertible bonds begins on 11 November 2011 and
ends on 11 November 2014. AGO AG will exchange the convertible bonds at the
end of the term to non-par bearer shares at a conversion price of EUR 1.76.
AGO AG is further entitled to convert the bonds early at a conversion price
of EUR 1.76 to non-par bearer shares of the company under the condition
that the share price of AGO AG at Xetra is above EUR 2.80 for a period of
twenty consecutive trading days.
The convertible bonds will be listed on the Regulated Unofficial Market at
the Frankfurt Stock exchange. This transaction is organized by quirin bank
AG, Berlin as Sole Lead Manager.
The subscription offer is published today in the electronic version of the
Federal Gazette.
About AGO AG Energie + Anlagen:
AGO AG Energie + Anlagen, with its registered office in Kulmbach, was
founded in 1980 and is specialized in the area of innovative and efficient
energy supply facilities for industrial customers. Main focus of AGO AG
Energie + Anlagen is laid on the following three business divisions:
project development and implementation, plant operation and service and
consulting. The core competence of the company commits mainly to biomass
cogeneration plants and power generation plants, to heating and cooling
technology plant construction, trigeneration - a combination of
power-heat-cooling - as well as to contracting. Site studies and
development, consulting in energy efficiency, resource and fuel fossil
consulting as well as emission trade management - these factors complete
the business model. AGO symbolizes efficiency, security and technological
competence of your energy supply facilities.
Company contact:
AGO AG Energie + Anlagen
Am Goldenen Feld 23
D-95326 Kulmbach
www.ago.ag
T. +49 (0) 9221 602 0
F. +49 (0) 9221 602 149
ir-ago(at)ago.ag
Investor Relations contact:
GFEI Aktiengesellschaft
Marcus Kapust
Am Hauptbahnhof 6
60329 Frankfurt am Main
www.gfei.de
T. +49 (0) 69 743 037 00
F. +49 (0) 69 743 037 22
ir-ago(at)gfei.de
End of Corporate News
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24.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: AGO AG Energie + Anlagen
Am Goldenen Feld 23
95326 Kulmbach
Germany
Phone: +49 (0)9221 602-0
Fax: +49 (0)9221 602-149
E-mail: info(at)ago.ag
Internet: http://www.ago.ag
ISIN: DE000A0LR415
WKN: A0LR41
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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143188 24.10.2011
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